Amerigas Partners Lp (APU) has reported 13.56 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $91.95 million, or $0.87 a share in the quarter, compared with $80.97 million, or $0.77 a share for the same period last year. Revenue during the quarter grew 5.13 percent to $677.17 million from $644.10 million in the previous year period. Gross margin for the quarter expanded 392 basis points over the previous year period to 65.30 percent. Total expenses were 75.25 percent of quarterly revenues, down from 80.73 percent for the same period last year. This has led to an improvement of 548 basis points in operating margin to 24.75 percent.
Operating income for the quarter was $167.63 million, compared with $124.12 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $185.11 million compared with $177.69 million in the prior year period. At the same time, adjusted EBITDA margin contracted 25 basis points in the quarter to 27.34 percent from 27.59 percent in the last year period.
Jerry E. Sheridan, president and chief executive officer of AmeriGas, said, "We were pleased with the performance of the business during the first quarter, especially considering the extreme variance in weather we experienced. Through the end of November, weather was 26% warmer than normal and our operating focus was on efficiency and tight expense controls. The weather turned quickly and our teams shifted seamlessly into full winter mode in what was essentially a normal December,
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